PSEi hits 6,700 level for the 1st time


Posted at Feb 25 2013 11:20 AM | Updated as of Feb 25 2013 08:05 PM

MANILA, Philippines (UPDATE) - The Philippine Stock Exchange index (PSEi) breached the 6,700 level for the first time on Monday morning. 

The main index hit 6,702.03, up 0.55% or 36 points as of 11:01 a.m.

As of 12 noon, the PSEi stood at 6,705.42 up 0.61% or 40 points, a likely intraday high.

Last week, the PSEi notched its 20th record close. 

Analysts have already been warning that the PSEi's bull run which has pushed share prices higher may correct soon. But others insist Philippine stocks will continue its rally, and may even hit 7,200 to 7,500 level. - With ANC